Greatmark Investment Partners Inc. Sells 50 Shares of Alphabet Inc. (NASDAQ:GOOG)

Greatmark Investment Partners Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 24.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 153 shares of the information services provider’s stock after selling 50 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Alphabet were worth $317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Norges Bank bought a new position in shares of Alphabet in the 4th quarter worth approximately $2,118,088,000. Cibc World Markets Corp grew its position in shares of Alphabet by 537.3% during the 4th quarter. Cibc World Markets Corp now owns 725,784 shares of the information services provider’s stock valued at $1,271,486,000 after acquiring an additional 611,904 shares during the period. Egerton Capital UK LLP increased its stake in shares of Alphabet by 85.6% in the 4th quarter. Egerton Capital UK LLP now owns 675,668 shares of the information services provider’s stock worth $1,183,689,000 after purchasing an additional 311,706 shares in the last quarter. Clarus Group Inc. raised its holdings in Alphabet by 57,108.2% in the 1st quarter. Clarus Group Inc. now owns 250,000 shares of the information services provider’s stock worth $1,122,000 after purchasing an additional 249,563 shares during the period. Finally, Sanders Capital LLC increased its position in Alphabet by 11.6% in the fourth quarter. Sanders Capital LLC now owns 1,526,442 shares of the information services provider’s stock worth $2,866,248,000 after buying an additional 158,383 shares in the last quarter. 31.94% of the stock is owned by institutional investors.

In other news, CEO Sundar Pichai sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $2,068.50, for a total value of $6,205,500.00. Following the completion of the sale, the chief executive officer now owns 6,757 shares in the company, valued at approximately $13,976,854.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lawrence Page sold 3,998 shares of the stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $2,261.93, for a total transaction of $9,043,196.14. Following the transaction, the director now owns 800 shares in the company, valued at $1,809,544. The disclosure for this sale can be found here. Insiders have sold a total of 41,036 shares of company stock worth $91,551,013 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Several research firms recently issued reports on GOOG. Citigroup lowered shares of Alphabet from a “buy” rating to a “neutral” rating in a report on Monday, May 10th. Raymond James lifted their target price on Alphabet from $2,440.00 to $2,750.00 and gave the company an “outperform” rating in a research note on Tuesday, May 4th. Wedbush started coverage on Alphabet in a research note on Wednesday, April 14th. They issued an “outperform” rating and a $2,953.00 price target for the company. Morgan Stanley lifted their price objective on shares of Alphabet from $2,050.00 to $2,200.00 and gave the company an “overweight” rating in a research report on Wednesday, February 3rd. Finally, Evercore ISI restated an “outperform” rating and set a $2,525.00 target price on shares of Alphabet in a research report on Tuesday, April 13th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $2,495.63.

GOOG opened at $2,316.16 on Friday. The business has a fifty day moving average of $2,265.68 and a 200 day moving average of $1,969.58. The stock has a market cap of $1.55 trillion, a P/E ratio of 44.76, a PEG ratio of 1.66 and a beta of 0.98. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $1,339.00 and a 52-week high of $2,452.38.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $15.74 by $10.55. The firm had revenue of $55.30 billion during the quarter, compared to the consensus estimate of $51.40 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The company’s revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.87 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 52.19 EPS for the current fiscal year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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